Assets instead of income

[BC_Ed 0]

Hi,

If there is one thing that concerns me about our application in general it is the I-864. We have no US income to count so it will be judged purely on assets. Frankly we have enough to meet the 5 year test with room to spare.

My concern is the lack of any US income to point to and the concern that the officer will be worried we are going to become welfare cases.

The Dept of State website states this clearly:

Can the immigrant visa applicant count assets that he or she owns that are outside the United States, such as real estate or personal property?

Yes, under these conditions:

The assets must be readily convertible to cash within 12 months

The applicant must show that he/she can take the money or assets out of the country where they are located. Many countries have strict regulations which limit the amount of cash or liquid assets that can be taken out of the country

The assets equal at least five times the difference between the sponsor's income and 125 percent of the poverty line for the household size.

But the tips here on visajourney point to the need for income not assets:

When assets are used, the assets must equal 5 times the difference between the annual income and the

needed 125% of the poverty level, this is because the affidavit is in effect for 5 years. For instance, if you

needed $15,500 income and had an annual income of $13,500, you would need an extra $2,000 of assets for 5 years, or a total of $10,000 in assets in addition to your income. In general, if you are deficient on yearly income for sponsorship and your assets are somewhat borderline, do not take chances--have a co-sponsor. If you do not have a job or a steady income from other sources (such as retirement income), you will likely have to get a co-sponsor for your spouse, even if your assets are adequate. The USCIS looks VERY CLOSELY at current income and not just the assets.

So, the question is whether we should hedge our bets by having a co-sponsor submit with us just in case.

Sorry for being a pain on this one but I don't want to get slowed down.

Thanks,

Ed

[aussiewench 9]

Whilst I believe in the most part your assets will suffice it is ultimately up to the Conof. Having a co-sponsor complete his own I-864 for you to have on hand if requested is worth doing IMO. Have you looked over the just released guidelines on the I-864 which is available via the link in my signature (It is also pinned in the Immigration News Forum)

http://www.visajourney.com/forums/index.php?showtopic=4054

NOTE:

You need to consider the “totality of circumstances” (including the

applicant’s age, health, and education) and can deny visa issuance under

212(a)(4)© if the applicant appears likely to become public charge despite

meeting the poverty guidelines. However, “totality of circumstances” cannot

serve as the basis for overcoming Section 212(a)(4) if the poverty guidelines

are not met.

[meauxna 15]

Ed,

AW pointed you right with the 'totality of circumstances'. The I-864 is one vehicle for reporting your situation, but if you feel that it does not do you enough justice, you can add to it!

Some people in similar situations have included their resume/CV, a narrative report of their career, profession, prospects for employment in the US etc

Your job is to convince the ConOff that you are NOT likely to become a public charge.

In my husband's interview (we were both living abroad) I was questioned about the field of work I had been in, my earnings (backed up with tax returns), where we were moving to, whether or not I had job offers etc. My age (38 at the time) was taken into account, or at least commented on (in the positive!), and the citizenship of my spouse was commented on (he was not considered to have an economic motive for migrating and he comes from an English speaking country).

The officers are humans and you have an opportunity in the interview to explain yourself in a way that paper just can't do. If you are NOT likely to become a public charge, explain how and why, and back it up with as much proof as you can.

[awaterlily 0]

Hello Ed,

There are certainly conflicting reports on the issue of assets. I've read posts on here where assets were considered in lieu of income just fine. I think one VJer was going through the Australian embassy had a positive experience. However I suppose it is up to the interviewing officer. You may want to look into the co sponsor option - just in case.

Have you asked your embassy? It sounds like you should ask them.

Good luck!

~waterlily

Hi,

If there is one thing that concerns me about our application in general it is the I-864. We have no US income to count so it will be judged purely on assets. Frankly we have enough to meet the 5 year test with room to spare.

My concern is the lack of any US income to point to and the concern that the officer will be worried we are going to become welfare cases.

The Dept of State website states this clearly:

Can the immigrant visa applicant count assets that he or she owns that are outside the United States, such as real estate or personal property?

Yes, under these conditions:

The assets must be readily convertible to cash within 12 months

The applicant must show that he/she can take the money or assets out of the country where they are located. Many countries have strict regulations which limit the amount of cash or liquid assets that can be taken out of the country

The assets equal at least five times the difference between the sponsor's income and 125 percent of the poverty line for the household size.

But the tips here on visajourney point to the need for income not assets:

When assets are used, the assets must equal 5 times the difference between the annual income and the

needed 125% of the poverty level, this is because the affidavit is in effect for 5 years. For instance, if you

needed $15,500 income and had an annual income of $13,500, you would need an extra $2,000 of assets for 5 years, or a total of $10,000 in assets in addition to your income. In general, if you are deficient on yearly income for sponsorship and your assets are somewhat borderline, do not take chances--have a co-sponsor. If you do not have a job or a steady income from other sources (such as retirement income), you will likely have to get a co-sponsor for your spouse, even if your assets are adequate. The USCIS looks VERY CLOSELY at current income and not just the assets.

So, the question is whether we should hedge our bets by having a co-sponsor submit with us just in case.

Sorry for being a pain on this one but I don't want to get slowed down.

Thanks,

Ed

[BC_Ed 0]

Cool. Thanks.

I think we are also helped by my wife being a nurse and hence employable at the drop of a hat.

I phoned NVC today and talked to a wonderful woman who said that there is little or nothing to worry about. She said the officer would understand that there cannot be income due to our situation and with plenty of assets not to worry. She was marvellous. Made me feel much more at ease.

Yesterday I got my DS-3032 but my wife did not get hers or the bill. Crazy since they were mailed at the same time.

Ed